In an unfortunate turn of events- my 5 ended up fully submerged for five seconds or so. It worked perfectly, other than the fact that it would restart immediately after being shut off. Put it in rice for a couple of hours and shut it off; it stayed that way. 48 hours later I took it out and it is 100% functional.

This submersion also involved the iPhone being flung into a rock. No damage besides a small ding on the band.